Economy experts

Speakers at a conference on air pollution in HCM City last Friday. VNS Photo Bồ Xuân Hiệp HCM CITY — Việt Nam lacks comprehensive studies on air pollution and its impacts on health, life and the economy, experts said at a conference in HCM City on Friday (April 19). Dr Hồ Quốc Bằng, head of the air pollution and climate change office at the Việt Nam National University’s Institute for Environment and Natural Resources, said conducting studies on air pollution requires far more effort, time and advanced equipment than on water pollution. There is a shortage of advanced equipment for monitoring air quality and a limited number of air monitoring stations in the country, he said. “Scientific research on air pollution has not received adequate attention from scientists.” Air pollution in HCM City in particular is caused mainly by transport activities (50 per cent) and household activities (30 per cent), with … [Read more...] about Việt Nam ignores air pollution: experts

Illustrative image (Source: VNA) Hanoi (VNA) - Although people and businesses don’t want the price of electricity and other commodities to increase, it is necessary to raise these prices to balance the economy in a multidimensional way. The statement was made by chief economist of the Bank for Investment and Development of Vietnam (BIDV) Can Van Luc, during an online forum held in Hanoi on March 21. The forum was organised after the average retail price for power was officially raised by 8.36 percent starting on March 20, from 1,720 VND (7.49 US cents) per kWh to 1,864 VND (8.03 US cents), excluding value added tax. Different pricing schemes have also been set for households and businesses. Specifically, retail prices for households now range from 1,678 VND per kWh to 2,927 VND per kWh depending on usage. Previously, the input prices (coal, gas) of power generation enterprises still had the sponsorship of the State. However, since 2019, these input … [Read more...] about Power price hike necessary to balance economy: experts

Despite headwinds in the global economy, experts believe that Vietnam’s fundamentals and opportunities remain attractive to foreign investors. Dr Vo Tri Thanh, Simon Deng Jiewen, and Dr Le Anh Tuan offered insights into global economic developments and their impact on Vietnam At yesterday’s Forecast Dinner 2019 hosted by CFA Community Vietnam, top experts have discussed their predictions for the year ahead. The general consensus is that the world’s markets are likely to remain soft in 2019 due to ongoing trade conflicts between the US and China, slow growth in Europe, and spillover effects in emerging markets. “The only certainty is uncertainty. From what I know, confidence in growth is not really good and expectations should be tapered down,” said Simon Deng Jiewen, investment director at Whitefield Capital Management (Singapore). The investor explained that after a period of strong expansion thanks to tax cuts and infrastructure spending, the … [Read more...] about Vietnamese economy to shine through turbulent year ahead

A conference on the labour impact of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was held in HCM City on January 11. (Photo: VNA) HCM City (VNS/VNA) - Young people in the workforce need to be better prepared for competing in a knowledge-based economy, experts said at a conference held in Ho Chi Minh City on January 11. Pham Van Chat, a lawyer with the Vietnam International Arbitration Centre (VIAC), said that human resources in Vietnam had not been trained well enough to meet work requirements in the new economy. Students, lecturers and professionals from colleges, universities, institutions and agencies in southern cities and provinces attended the conference, which examined the impact of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which took effect on January 1. Vietnam’s labour productivity remains low compared with many members of the CPTPP and ASEAN countries. The Ministry of Labour, Invalids … [Read more...] about Young workers need preparation: experts

Illustrative image (Source: FPT Corporation) Hanoi (VNA) – A scientific seminar to offer strategic forecasts about the future of the Vietnamese digital economy took place in Hanoi on December 14. The event was co-organised by the Vietnam Academy of Social Sciences (VASS) and the Australia-based Commonwealth Scientific and Industrial Research Organisation’s Data 61 project. Speaking at the event, expert Nguyen Thu Nga from the VASS said the Vietnamese government has tapped into the potential of digital economy by issuing a master plan on the development of e-commerce and a national high technology development programme. The number of Internet subscribers soared 320-fold to 64 million in January 2018 from nearly 200,000 in 2000. Australian digital economy expert Jessica Antherton said digital economy is one of the pillars of economic growth as countries worldwide are embarking on the fourth industrial revolution. She pointed out seven key trends impacting … [Read more...] about Seminar talks future of Vietnamese digital economy

Experts share opinions at the workshop (Photo VNA) HCM City (VNA) – Vietnamese businesses need to urgently adapt their management methods and bravely step out into the world in order to survive and develop in the context of global integration, said experts at a workshop held Ho Chi Minh City on December 13. Vu Thi Thuan, Chairwoman of Traphaco JSC, said Vietnam is going through an extensive and intensive integration process by engaging in groups such as the Asia-Pacific Economic Cooperation (APEC) Forum, the Association of Southeast Asian Nations (ASEAN), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the EU-Vietnam Free Trade Agreement (EVFTA). This allows businesses to expand their markets but also presents a lot of challenges and competition, she said, adding that the development of technology and artificial intelligence requires enterprises to map out sustainable development strategies. Businesses should make plans to maintain … [Read more...] about Firms should seek to grow stronger in global economy: experts

Viet Nam News HCM CITY — A free and open internet that facilitates cross-border data flows plays an essential role in promoting the digital economy of Việt Nam and the ASEAN region, speakers at a workshop held in HCM City said yesterday. Speaking at the “Understanding Cross-Border Data Flows: E-Commerce and Beyond” workshop, US Consul General Mary Tarnowka said Việt Nam has an opportunity to be a global leader in e-commerce and smart city technology. “But policies that limit the free flow of ideas and data threaten these goals,” she said. “The fourth industrial revolution could fundamentally change the way in which our daily lives interact with technology, and some of these changes are already happening.” Through advances ranging from biotechnology to self-driving cars, the evolving technology industry promises to find solutions for real problems and improve the quality of life for people around the world, she said. … [Read more...] about Open internet key for economy

Vietnam’s financial sector needs to play a key role in the transitional efforts to develop a low-carbon, climate-resilient, economy through re-orienting investment to more sustainable projects, while accounting for environmental and social risks, experts have suggested. VCCI Secretary General Nguyen Quang Vinh at the workshop - Photo: NDO Financial and environmental experts gathered at an international workshop on the theme of “Sustainable Finance on Climate and Energy,” which opened in Hanoi on March 29, to discuss measures to boost the financial sector’s activities in promoting Vietnam’s tangible results on environmental and sustainable policy goals. The event was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI), the Vietnam Banking Association, the International Finance Corporation (IFC), and the world’s leading conservation organisation, World Wildlife Fund (WWF) in Vietnam. According to experts, climate change will … [Read more...] about Financial sector helps boost transition for low carbon economy: experts

Low productivity growthDr. Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM), said Vietnam reached an annual labor productivity growth of 4.8 and 4.3 percent and a yearly economic growth of 7.3 and 6.7 percent in 1990-2000 and 2000-2012, respectively. The country’s labor productivity was unstable in recent years, falling to its lowest level - 3.8 percent - in 2013 and rising to 6.5 percent in 2015, leading to an annual economic growth of only 5.96 percent in the 2011-2016 period.According to Minister of Planning and Investment, Nguyen Chi Dung, 2017 was a successful year of Vietnam, which fulfilled or exceeded all of the 13 socioeconomic development targets set by the National Assembly, including gross domestic product (GDP) growth of 6.7 percent. However, Vietnam’s growth quality remains modest, which is mainly attributed to modest labor productivity.Ousmane Dione, Country Director of the World Bank in Vietnam, said Vietnam’s average … [Read more...] about Experts warn of low productivity results

The Hanoitimes - In 2018, Vietnam will have to face 3 main challenges, including: international affairs, lack of capital and qualified human resources, and inconsistent policy implementation. In recent years, the monetary policies have yielded positive results, however, it comes from the efficient implementation, instead of providing efficient policies – banking expert, Dr. Le Xuan Nghia speaking at the conference “Opportunities for investment – business in 2018” on January 5 in Hanoi. Expectation for 2018 is a year of action for all level of governmental agencies, for which all long term targets for monetary policies will be achieved. In 2017, the State Bank of Vietnam (SBV) has been steadfast in pursuing long term targets, which has been highly appreciated by international organizations. As such, while the government wanted to reduce key interest rates and exchange rate to facilitate business. However, the banking system only followed this … [Read more...] about 3 challenges for Vietnam’s economy in 2018